Biohaven (NYSE:BHVN) Shares Gap Up to $55.23

Shares of Biohaven Ltd. (NYSE:BHVN) gapped up before the market opened on Tuesday . The stock had previously closed at $55.23, but opened at $58.20. Biohaven shares last traded at $57.98, with a volume of 154,581 shares trading hands.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. JPMorgan Chase & Co. boosted their target price on shares of Biohaven from $32.00 to $56.00 and gave the company an “overweight” rating in a research note on Friday, February 23rd. HC Wainwright increased their price target on shares of Biohaven from $50.00 to $63.00 and gave the stock a “buy” rating in a report on Monday, March 4th. Robert W. Baird assumed coverage on Biohaven in a research report on Friday, December 8th. They issued an “outperform” rating and a $58.00 price objective on the stock. Royal Bank of Canada lowered their price objective on Biohaven from $62.00 to $61.00 and set an “outperform” rating on the stock in a research report on Friday, March 1st. Finally, UBS Group began coverage on Biohaven in a research report on Tuesday, February 6th. They set a “buy” rating and a $59.00 target price on the stock. Eight research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $49.67.

Biohaven Stock Up 1.3 %

The stock has a fifty day moving average of $50.56 and a 200-day moving average of $37.95. The stock has a market capitalization of $4.65 billion, a price-to-earnings ratio of -10.07 and a beta of 1.18.

Biohaven (NYSE:BHVN) last issued its quarterly earnings data on Thursday, February 29th. The company reported ($1.81) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.41) by ($0.40). On average, equities analysts forecast that Biohaven Ltd. will post -5.85 EPS for the current fiscal year.

Insider Buying and Selling

In other Biohaven news, Director Irina Antonijevic sold 11,000 shares of Biohaven stock in a transaction dated Friday, December 29th. The shares were sold at an average price of $41.79, for a total transaction of $459,690.00. Following the completion of the transaction, the director now owns 2,535 shares in the company, valued at $105,937.65. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 16.00% of the stock is owned by insiders.

Hedge Funds Weigh In On Biohaven

Several institutional investors and hedge funds have recently bought and sold shares of the stock. US Bancorp DE grew its stake in Biohaven by 19.1% during the first quarter. US Bancorp DE now owns 586 shares of the company’s stock worth $70,000 after buying an additional 94 shares during the period. Point72 Hong Kong Ltd purchased a new position in shares of Biohaven in the first quarter valued at $200,000. KBC Group NV purchased a new position in shares of Biohaven in the fourth quarter valued at $74,000. Zebra Capital Management LLC purchased a new position in shares of Biohaven in the first quarter valued at $236,000. Finally, Arrowstreet Capital Limited Partnership purchased a new position in shares of Biohaven in the first quarter valued at $269,000. Institutional investors and hedge funds own 88.78% of the company’s stock.

About Biohaven

Biohaven Ltd., together with its subsidiaries, focuses on discovering, developing, and commercializing therapies for immunology, neuroscience, and oncology worldwide. The company's pipeline products include Troriluzole, which is in Phase 3 clinical trial for the treatment of neurological and neuropsychiatric illnesses; BHV-5500 that blocks glutamate signaling mediated by post-synaptic NMDA receptors; Taldefgrobep Alfa, which is in Phase 3 clinical trial for the treatment of spinal muscular atrophy and obesity; BHV-7000, a candidate in Phase 2/3 clinical trials for the treatment of focal and generalized epilepsy, bipolar disorder, and major depressive disorder; BHV-2100 that is in Phase 1 clinical trials for the treatment of migraines and neuropathic pain; and BHV-8000, a product candidate in Phase 1 clinical trials for the treatment of early Alzheimer's and Parkinson's disease, sclerosis, and amyloid-related imaging abnormalities.